Increasing Demand in North America, Europe to Drive Keratoconus Treatment Market
The Keratoconus Treatment Market was valued at USD 358.55 million in 2019 and is expected to register a CAGR of 4.72% during the forecast period of 2020 to 2027. Keratoconus is a progressive eye condition in which the cornea, usually round and small, appears cone-like. Keratoconus frequently has to do with light overexposure, constant eye rubbing, improperly fitting contact lenses and chronic eye irritation. Keratoconus care depends on the seriousness of the disease and how easily the condition progresses.
The global keratoconus treatment market is segmented on the basis of type, diagnosis, treatment, end use, and region.
- By type, the global keratoconus treatment market is segmented into forme fruste keratoconus, corneal hydrops, keratoglobus, pellucid marginal degeneration, posterior keratoconus, and others.
- By diagnosis, the market is segmented into computerized corneal mapping, keratometry, slit-lamp examination, refraction test, and others. Slit-lamp examination includes tonometry, vision testing, and others.
- On the basis of treatment, the market has been segmented into lenses, surgery, collagen cross-linking, and others. The lenses segment is sub-segmented into eyeglasses or soft contact lenses, hard contact lenses, piggyback lenses, hybrid lenses, scleral lenses, and others. Surgery is sub-segmented into corneal inserts, cornea transplant, and others. The collagen cross-linking process is still in development; more research is required to implement this treatment option on a commercial scale.
- By end use, the global keratoconus treatment market is segmented into eye hospitals and clinics, medical research centers, academic institutes, and others. Eye hospitals and clinics held the majority share in the global keratoconus treatment market in 2016 and are likely to remain the leading revenue generator in the coming years.
The Americas are likely to remain the highest grossing regional market for the global keratoconus treatment market over the forecast period. North America is likely to dominate the global market in the coming years due to the increasing demand for advanced, progressive keratoconus treatments in the region’s highly advanced healthcare sector. The increasing demand for more progressive lenses and other vision correction devices is likely to remain the major driver for the North America market for keratoconus treatment over the forecast period. Increasing awareness about ophthalmic conditions in North America is likely to result in steady growth of the keratoconus treatment market in North America over the forecast period.
Europe is the second largest regional market for the global keratoconus treatment market and is likely to hold a significant share in the global market’s revenue in the coming years. The presence of strong healthcare research infrastructure in North America and Europe is likely to be the major driver for the keratoconus treatment market over the forecast period. From diagnosis to treatment, the keratoconus treatment market is in a stage of highly progressive evolution, with new treatments and diagnostic devices and techniques being discovered every year. The strong presence of research channels into optics and glassmaking in Europe is likely to remain a major driver for the Europe keratoconus treatment market over the forecast period. Optics and glassmaking has a proud and longstanding tradition in Europe, with European glassmaking going back centuries, being the birthplace of glass as a commercially viable, producible material. This has led to contact lens making being a highly viable industry in Europe. This is likely to remain a major driver for the Europe keratoconus treatment market over the forecast period.
Asia Pacific is likely to exhibit rapid growth in the global keratoconus treatment market over the forecast period due to the growing awareness about ophthalmic conditions such as keratoconus, the increasing government support for research into the healthcare sector and medical devices, and the increasing availability of advanced treatments for keratoconus. Increasing availability of advanced diagnostic channels for keratoconus is likely to be a major driver for the keratoconus treatment market in Asia Pacific over the forecast period.
List of Key Companies Covered in this report:
HOYA Vision Care Company (Japan) 2. Menicon Co., Ltd. (Japan) 3. Cooper Companies, Inc. (US) 4. Bausch Health (Canada) 5. SynergEyes (US) 6. Carl Zeiss Meditec AG (Germany) 7. Contamac (UK) 8. SEED Co., Ltd (Japan) 9. Novartis AG (Switzerland) 10. Johnson & Johnson Services, Inc. (US)
- In August 2019, a new device was developed for preclinical stage keratoconus diagnosis. The device uses polarimetric interferometry to detect preclinical stage changes related to keratoconus, providing the chance to tackle the disease head on before it develops. The most viable options for keratoconus treatment at present are centered on damage control, making this development important for the keratoconus treatment market.
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